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Why we need a Living Wage Economy
April 5, 6:30 pm–8:30 pm
In 1914, Henry Ford made a big announcement that shocked the country. He doubled the daily pay for his autoworkers to $5. Other manufacturers thought he was crazy. But Ford gambled that raising his worker’s pay would increase the number of people who would buy his cars. It paid off. In 1914, the company sold 308,000 of its Model Ts-more than all other carmakers combined. By 1915, sales had climbed to 501,000. By 1920, Ford was selling a million cars a year.
Kevin Scanning, Professor of Sociology, will share recent findings demonstrating the importance of a living wage for a sustainable local economy. It will be followed by a response panel of local economic development stakeholders.